UBS Group Lowers Kayne Anderson BDC (NYSE:KBDC) Price Target to $13.50

Key Points

• UBS Group lowered Kayne Anderson BDC’s price target from $15.00 to $13.50 and maintained a “neutral” rating, implying roughly 0.15% downside from the stock’s $13.52 price.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $14.50. Recent target cuts came from RBC and Wells Fargo, while Zacks Research downgraded the shares to “strong sell.”
• Kayne Anderson BDC reported quarterly EPS of $0.42, exceeding the $0.40 consensus estimate, while shares were down 0.7% and trading near the lower end of their 12-month range.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) had its price objective cut by investment analysts at UBS Group from $15.00 to $13.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target points to a potential downside of 0.15% from the stock's current price.

KBDC has been the subject of several other reports. Royal Bank Of Canada dropped their target price on Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 13th. Wells Fargo & Company reiterated an "equal weight" rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Finally, Zacks Research cut shares of Kayne Anderson BDC from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.50.

Kayne Anderson BDC Stock Down 0.7%

Shares of NYSE KBDC opened at $13.52 on Tuesday. The stock has a market cap of $892.86 million, a PE ratio of 12.41 and a beta of 0.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC has a 12-month low of $13.06 and a 12-month high of $15.87. The company has a 50-day moving average of $13.62 and a 200 day moving average of $14.01.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The business had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. As a group, sell-side analysts predict that Kayne Anderson BDC will post 1.61 EPS for the current fiscal year.

Institutional Trading of Kayne Anderson BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. HB Wealth Management LLC lifted its position in Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company's stock valued at $3,791,000 after buying an additional 44,848 shares during the last quarter. Requisite Capital Management LLC raised its stake in shares of Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company's stock valued at $8,987,000 after acquiring an additional 39,385 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in shares of Kayne Anderson BDC in the 2nd quarter worth approximately $248,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Kayne Anderson BDC by 46.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company's stock worth $1,350,000 after purchasing an additional 31,444 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company's stock worth $76,355,000 after purchasing an additional 143,854 shares during the period.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc NYSE: KBDC is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.

The company's portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.

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